Find the compound interest on Rs. 10800 at 10% per annum for 2 years. MCQ with Answer and Explanation

Find the compound interest on Rs. 10800 at 10% per annum for 2 years.

A. Rs. 2376

B. Rs. 2484

C. Rs. 2160

D. Rs. 2268

Answer: Option D

A = 10800 × 1.21 = 13068, CI = 13068 − 10800 = Rs. 2268.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money at compound interest amounts to Rs. 1352 in 2 years and Rs. 1406.08 in 3 years. Find the sum.

A. Rs. 1200

B. Rs. 1350

C. Rs. 1250

D. Rs. 1300

Correct Answer: Option C

Explanation:
Rate = (1406.08/1352 − 1)×100 = 4%. P = 1352 / (1.04)² = 1352 / 1.0816 = 1250.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest becomes 11 times in 2 years. In how many years will it become 121 times?

A. 5 years

B. 3 years

C. 4 years

D. 6 years

Correct Answer: Option C

Explanation:
121 = 11², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money invested at compound interest doubles itself in 5 years. In how many years will it become 8 times of itself?

A. 10 years

B. 20 years

C. 15 years

D. 25 years

Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 5 years. It will become 8 (2^3) times in 3 * 5 = 15 years.

This question belongs to: Maths Compound Interest